Huge Shakeup at Regent and Oceania

[rallydave]

https://www.seatrade-cruise.com/people-opinions/frank-del-rio-jr-andrea-demarco-new-presidents-oceania-cruises-regent?NL=ST-002&Issue=ST-002_20221215_ST-002_503&sfvc4enews=42&cl=article_1_b&utm_campaign=STRADE_News_Seatrade Cruise News Breaking Headlines_News_NL_12152022_4003&utm_emailname=STRADE_News_Seatrade Cruise News Breaking Headlines_News_NL_12152022_4003&utm_medium=email&utm_source=Eloqua&utm_MDMContactID=04296ed0-12fe-4c8a-a0f9-1855a7492dca&utm_campaigntype=Newsletter&eM=dd71f9cac1f372bccde63ff20d0b35f7736bdda7a135f2560c14b4f1e951ac88&eventSeriesCode=ES_SEATRDCRSCTNT&eventEditionCode=MTM00SCC&sessionCode=S_STRDCRSNWSBRK&sp_eh=dd71f9cac1f372bccde63ff20d0b35f7736bdda7a135f2560c14b4f1e951ac88

[Bellaggio Cruisers]

So… your comments regarding how this news will affect Regent…

sheila

[GOARMY]

So----All sizzle and no steak?

 

Fail to see any real significance in this announcement as its affects on loyal clients.  Are we (or me) missing some subliminal message as to change(s) in the offing to long-established (and maintained) service standards?    

 

Reminds me of a Shakespeare line from "Hamlet" relevant to this blast of media pronouncements: 

 

"Full of sound and fury--signifying nothing."  

 

See some of you at NYC in May when we board Navigator.  

 

GOARMY!

 

 

 

 

[wcsdkqh]

Much ado about nothing.

[TheRampantSnail]

Full of sound and fury--signifying nothing."

Macbeth Act 5 Scene 5

[Wendy The Wanderer]

Well, there is the reduction of shoreside staff reported elsewhere.

[rallydave]

Guess not a big deal when presidents of both Regent as nd Oceania are suddenly removed and suddenly replaced with th previous presidents becoming “advisors”

 

thought Montegue was well liked??

[BBWC]

I have the feeling people that commented above didn’t even read the whole article. Yes, I think it is a big deal when two presidents are suddenly removed with the reason being given as ‘succession planning’. FYI - Montague is 46 years old.

[BBWC]

Here is the 8K filing by. CLH that provides more details on the personnel changes.

 

https://www.nclhltd.com/investors/sec-filings/all-sec-filings/content/0001558370-22-018672/0001558370-22-018672.pdf

[seaknots]

always sad to see people put out of work especially this time of year

 

axing a trusted colleague who helped get you to the top + promoting a family member  ????

[rallydave]

12 minutes ago, seaknots said:

always sad to see people put out of work especially this time of year

 

axing a trusted colleague who helped get you to the top + promoting a family member  ????

Nobody is out of work from my original post. Tha ex presidents will have salaries on $500,000 plus perks as “advisers” starting Jan 1 

 

just read the filed 10K link posted eariier in this thread. 

[CruiserFromMaine]

There’s more to this story, as always. We’ll never know the full details. 
 

DeMarco has a sales background so hopefully she’ll keep up the focus on a hug-end Regent experience as a sales and marketing advantage. 

[seaknots]

34 minutes ago, rallydave said:

Nobody is out of work

nclh corporate layoffs of 9% = lots of people out of work just before christmas

 

[Gpilon]

Will be interesting to see what, if any, impact this will have on the client experience going forward. 

[seaknots]

19 hours ago, BBWC said:

Yes, I think it is a big deal when two presidents are suddenly removed with the reason being given as ‘succession planning’

succession planning only for delrio family to protect inflated income

 

[pappy1022]

Being around the corporate world for 40+ years, it is a big deal when the leadership of a company is replaced. Corporations will spin it in a positive way publicly but behind the scenes there are very specific reasons why leadership is changed. Sometimes those reasons are personality conflicts with the board of directors but most often it is financial performance and/or strategic direction and vision. Time will tell what is going to change but there is no doubt that changes are coming. You don’t change executive leadership and expect things to remain the same. The end result to us the customer can be a good thing or a not so good thing but things won’t remain the same. Our choices are to speculate and worry about what might change, or to accept that we can’t do anything about it and enjoy our time and experiences on Regent. 

[Sunprince]

The new Regent President's background is primarily Investor Relations and she has only been in a sales/marketing role for a shorter time.  Not sure what this means….do they want more of a financial person or customer/sales focused?

 

As for Oceania, promoting your son who has no cruise industry experience is a bit of a bold and embarrassing move. But entitlement is usually blind.

 

Also, anyone who moves from the President's position to a “Senior Advisor” - this just means they have been told that they are out and the company is just parking them as a senior advisor for a short time while they draw on their severance pay…and then they will quietly exit in the coming weeks.  

[Pcardad]

They have 2 years as advisors...giving them time to exercise stock options.

[Dr. Cocktail]

I think that NCLHI was under intense pressure to do, well, something as Wall Street was getting impatient with the (lack of) results. Putting in a numbers person may make them happy.

 

Financial markets may also be aware of the increasing intense competition facing Oceania and Regent, namely:

 

1) Silverseas will finally launch a ship whose interiors don't look like they came from the JC Penny Catalogue ... of 1984.  2) TBD but the Saudi's may close the deal and buy Seabourn and who knows what they would do. 3) the return of Crystal for whatever that's worth and most importantly 4) the launch of Explora who are openly targeting the "big three". They have cash to burn, a stunning ship and lots of actually new concepts targeting a younger, affluent crowd.

 

As always, time will tell!

[seaknots]

4 hours ago, Sunprince said:

promoting your son who has no cruise industry experience is a bit of a bold and embarrassing move

plenty experience - but competence?

 

2 hours ago, Dr. Cocktail said:

Putting in a numbers person may make them happy.

the ousted regent man was a senior accountant 🤔

 

2 hours ago, Dr. Cocktail said:

think that NCLHI was under intense pressure to do, well, something

so fdr culls 2 good execs to protect delrio dynasty

[Sunprince]

1 hour ago, seaknots said:

plenty experience - but competence?

All of his previous cruise industry jobs as far back as Prestige, were awarded by daddy.  So perhaps this counts as experience for what that worth. But was it earned and can he do the Presidents job? He only joined NCL in March 2022. 

[commodore2010]

On 12/20/2022 at 2:18 PM, seaknots said:

 

the ousted regent man was a senior accountant 🤔

 

 

To be exact,  CFO of Prestige Cruise Holdings when they owned Oceania and Regent. Before NCLH purchased Prestige.

Edited December 22, 2022 by commodore2010

[Dolebludger]

I actually don’t worry much about who is in the the “head shed”. What I am concerned about are the inclusions and quality of service I receive on a vacation (be it cruise, AI resort, or whatever). Last May, we flew to Vegas with reservations at the Bellagio which included transport from the airport (which never arrived). Once in the hotel, service was zero. Many of their restaurants were closed. Those that weren’t were very overpriced. We will never go there again. We have been “Regent regulars” since 2002. Yeah, their prices are a bit of a shock now. But when we take one of their cruises again, we will expect the same experience as in 2002. I suspect we will receive it.